Approval of the Plan to Restore the Pershing-Manitou Mine Site by the Quebec Government

ROUYN-NORANDA, Quebec, May 14, 2020 (GLOBE NEWSWIRE) — Pershimex Resources Corporation (« Pershimex » or « the Company») (TSX VENTURE : PRO) announces that it has received approval from the Quebec Ministry of Energy and Natural Resources for the restoration plan for the Pershing-Manitou mine site submitted in November 2019. The plan submitted by Pershimex is simple and rigorous and will allow the rehabilitation, according to current environmental standards, of an environmental liability belonging to the Quebec state and all its citizens. As a result, it will be possible to ship the pile of mineralized material (2,000 tons) to a contract processing plant for Phase 1 of the project currently underway. Pershimex is currently negotiating the conditions for processing the mineralized material pile at an ore processing plant in the Val- d’Or area. Negotiations with plants have been slowed by the COVID-19 crisis but following the recent resumption of mining activities in the region, the Company is confident that a final agreement can be reached in the coming weeks.

It should be noted that on March 23, 2020, when all fieldwork was put on hold by the Quebec Government due to the COVID-19 pandemic, the Company completed a drilling campaign to confirm the presence of gold mineralization in the surface crown pillar of the former Pershing-Manitou Mine (Phase 2). All drilling has been completed and the drill cores are in the sampling and analysis stage. A total of 16 drill holes were conducted for a total of 1,037 meters. Of the 16 holes, 12 holes contained coarse visible gold. These drillings will also provide the necessary information for the various engineering work related to the completion of the Phase 2 bulk sampling.

Robert Gagnon, President and CEO of the Company, said: “The Quebec Government approval of the Pershing-Manitou site restoration plan confirms the relevance of our development plan. Obtaining this approval also confirms the seriousness of our approach to rehabilitating an environmental liability by transforming it into a substantial gain for all stakeholders. This project is a concrete way to demonstrate our commitment, professionalism and determination to carry out mining work that benefits the Company.”

Pershimex Resources Corporation – Quick Overview

Strategic positioning in Abitibi-Témiscamingue with more than 800 claims.

Owns 100% of the mining rights on the Courville property.

Partnership with Dundee Precious Metals on the Malartic property.

This press release was prepared by Robert Gagnon, professional geologist, president of Pershimex, a qualified person under Regulation 43-101.

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